By the end of the year 2022, the net worth of the total marine peptides market sold worldwide was around US$ 246.5 million. Sales of marine peptides are expected to rise at a 5.8% CAGR over the coming ten years, between 2023 and 2033, worldwide. The global marine peptides industry value is anticipated to increase from US$ 273.8 million in 2023 to US$ 481.7 million by 2033.
As natural collagens have been shown to have potential health advantages, there is a corresponding demand for marine peptides that promote wellness and healthy aging. The pharmaceutical industry’s interest in marine peptides and bioactive compounds has expanded the overall market by manifolds in the last few years.
Growing awareness regarding several health benefits of functional foods containing marine peptide supplements has led to the commercialization of the product. Moreover, the broader availability of marine peptide ingredients over online retail channels has recently strengthened the market. However, growing interest in plant-based alternatives with the growing trend of vegan and vegetarian diets could limit the desirability of marine peptides in the long run.
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“As products made from natural or organic sources are becoming more popular, the marine peptide source would play a significant role in market development. Marine peptide industries’ competitive edge rests on their capacity to differentiate themselves and meet customer expectations in food, pharmaceutical, and cosmetics applications,” – FMI analyst.
Key Takeaways from the Global Marine Peptides Market Study Report
- In 2023, the demand for marine peptides in the United States market is projected to acquire a global market share of around 19.8%.
- In Europe, the use of marine peptides in the United Kingdom is much higher, and it is likely to develop at 9.8% CAGR through 2033.
- China is the leading market for the production of marine peptides in Asia, and it is expected to witness an annual growth rate of 13.5% till 2033.
- India is another remarkably growing market for marine peptide applications, and its domestic market is poised to follow an 11.7% CAGR from 2023 to 2033.
- The fish segment is expected to remain dominant in the coming days due to its high production capacity among the different marine peptide sources.
- Based on end use, marine peptide applications in the cosmetics industry create the most demand and form the leading segment.
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Competitive Landscape for Market Players
Because peptides derived from the sea are widely available, numerous large and small industries have diversified the overall market.
Marine peptide producers and suppliers will probably face competition from various bioactive substances and supplements sourced from other animals.
Key Segments Covered by Marine Peptides Industry Survey Report
By Product Type:
- Fish peptides
- Shellfish peptides
- Seaweed peptides
- Sponge peptides
- Squid peptides
- Other Product Types
By End-use Applications:
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Nutraceuticals
- Animal Feed
- Biotechnology
- Other End Use
By Region:
- North America Market
- Latin America Market
- Europe Market
- East Asia Market
- South Asia and Pacific Market
- The Middle East and Africa (MEA) Market
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Recent Developments by the Market Players
The Tessenderlo Group officially launched PB Leiner (Hainan) Biotechnology Ltd. in March 2023 to produce and market fish collagen peptides. PB Leiner’s technology is now a global leader in the production of gelatin and collagen solutions and delivers a comprehensive line of premium SOLUGEL fish collagen peptide products.
Rousselot Company introduced a new collagen peptide component into the skincare and cosmetics industry market in January 2021. This new product line, ‘Peptan Marine’ offers superior nutri-cosmetics and dietary supplements that are sustainably derived, helping beauty and nutrition firms to strengthen their position.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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